Daily Market Insight

• Final US Q1 GDP revised higher, but consumption was slower • US weekly jobless claims decline slightly • Tokyo's CPI edged higher in June, but underlying inflation remained subdued • The US dollar weakens following softened economic data

• US New home sales decline, while the supply reaches highest level in 16 years. • US Banks pass Fed's stress test • Australia inflation jumps to 6-month high in May, ramps up rate hike risks • The yen weakened, reaching a 38-year high despite fears of intervention.

• US consumer confidence fell on weaker outlook for economy • Canada inflation surprisingly increases in May, markets trim July rate cut bets • Hawkish tone from Fed Bowman • US dollar advances after hawkish Fed comment

• Fed should not take preemptive action if it is not needed, says Fed's Daly • German business sentiment unexpectedly darkens in June • Japan's business-to-business service inflation hits 2.5% in May • US dollar dips from 8-week high amid month-end

• US PMI increases in June in both manufacturing and services • Record-high prices and rising mortgage rates depress US home sales • Euro-zone activity slows mainly on French political uncertainty • UK retail sales jump most since January as confidence grows • Dollar edges higher with US economic strength in focus

• US Initial Jobless Claims were little changes and remained around 10-month high • BOE leaves policy rate on hold, hinting at readiness for rate cut • Japan’s inflation rose, backing case for BOJ rate hike • Dollar extends gains against yen with US economic strength in focus

• UK inflation drops to 2% target for first time since 2021 • Japan’s Exports Grow Most Since 2022 on Boost from Weak Yen • Most Japan firms see no need to follow the U.S. with tariffs on China • Dollar struggles for direction, euro close to 1 month low

• U.S. retail sales rise at slower than expected pace in May • US manufacturing production surges in May • BOJ debated weak yen's impact on inflation, April minutes show • Dollar steadies; sterling dips ahead of inflation test

• New York Manufacturing Shrinks Less Than Forecast as Prices Cool • Fed’s Harker Says One Rate Cut in 2024 Is Appropriate Based on Outlook • China's factory output disappoints, property sector stuck in sluggishness • Dollar wobbles as markets await more Fed clues

• US consumer sentiment ebbs in June; inflation worries linger • China new home prices fall for 11th straight month in May • Japan core machinery orders down in April but seen firming up ahead • Dollar firm as euro wallows near recent lows; market braces for China data